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Business, 19.03.2020 19:59 SMURFETTE86
You and your competitor are simultaneously developing a product and hoping that it will be the industry standard. It is possible that your product may be accepted, partially accepted or not accepted by the industry with 40%,40%, and 20% chance respectively. You will get a chance to invest 14 units after you know your acceptance status. Only after you invest, you will know the competitors’ acceptance probabilities.
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